Help- starting a business!

Discussion in 'Starting a Business' started by claudiucet, Feb 16, 2013.

  1. claudiucet

    claudiucet
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    Hi,before I get to my question ,I want you guys to know I am from Europe ,and lived in North Carolina since 2001.My big passion is soccer.Therefore I want to start my own litlle soccer assosiacion/club .As far as the game I am very familiar ,because I played quite a few year at the competitive level,as far as business I am walking trough a very desne fog! Here I am trying to clarifing a few thing so at least I would have a general ideea, or a starting point . I am planning to buy a field and start with a few (children 4-10 years old) teams for the beggining. But ...here comes my question,before I buy my land ,can I work first on having a logo for the club,having the club registered ,basically the paper work and legal aspects? And if so what approach should I take ,a non-profit organization,or my own private club.Thank you for your time!
    Claudiu
     
  2. bluesky98

    bluesky98
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    claudiucet,

    My advice would be to have a concrete plan before investing in land. This includes talking to a good accountant and lawyer about the
    best way to proceed to minimize your tax and legal liabilities. I have not setup a not-for-profit, but from what I understand, there is a lot of paperwork that goes into it (if that is the road they advise).

    If it were me, the first thing I would be thinking of, before logos, etc is how are you going to make this a profitable venture (even charities need positive cash flow). Who are you competing with? Do schools in your area already have soccer for your target market? How much are their fees? If they do, what are you bringing to the table that they cannot do? Why would a customer/parent spend money with you instead? Would it be possible to have existing leagues use your field for a fee? What would they be willing to pay? What facilities would your local government require you to have (such as bathrooms, parking, ADA compliance, etc)? What sort of permitting/licensing (if any) is required? How much will insurance cost? What type of insurances will need to be purchased? What sort of marketing will you need to do to attract customers? Will you need to purchase uniforms and equipment? Could you get local businesses to donate? How much would they be willing to contribute?

    Once you have an idea of the total costs you will need to outlay to get this off the ground, then you can calculate what it will take for you to be profitable. Based on that you can figure out what you would have to charge the customers. If theses numbers work out, then you should definitely proceed with first setting up the legal/tax entity. You may even be advised to purchase the land under the entity. Once you have the name registered (part of the setup process...can't file without a name), then make sure you pick up the internet domain name (so you can, at a minimum, have a company email address and not gmail, etc one...as not to look fly-by-night). Then work on the marketing, both the logo and whatever you have planned to attract customers.

    The bottom line, from my point of view, is that if it is not profitable, it is not worth doing (unless you are willing to give away money...there is nothing wrong with altruism either I suppose:))
     
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    #2 bluesky98, Feb 17, 2013
    Last edited: Feb 17, 2013
  3. claudiucet

    claudiucet
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    Thank you so much ,everything you said make sense ,and really dissipate the fog I was talking about,you kinda show me the path ,which that was very confusing for me.
    Sincerely Claudiu
     
  4. Picture

    Picture
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    I agree with Bluesky98. Buying land can be a headache as it is without thinking too far ahead about what you plan to do with it. If it were me I would concentrate on that first (God is not making anymore land so you stand to lose nothing) and work on the logos, acquiring domain name etc in your spare time.

    It sounds like a great project, and I wish you the best of luck with it.

    Oh and btw... it's football in Europe not soccer ;) lol
     
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  5. TimeRider

    TimeRider
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    I don't think you need a private ground for training. Here in my country, a Soccer Manager I know uses public ground for training. All that matters to him is money. And he is making money and I think he is capable of being a private ground. I don't about Europe about using public grounds. But what it matters to you is players first then ground.

    Try to advertise / promote your associate. Make the associate in your name.
     
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  6. claudiucet

    claudiucet
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    Yes indeed is football...great to hear somebody ''speaking my language'' LOL! Thank you so much for your advice!
     
  7. Lets Syncro

    Lets Syncro
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    One of my passions as well, I can tell you, from experience, that there is little money in the association itself. Coaching, private training, and running clinic / camps can provide serious income. Passion can be profitable there is no reason to give up one or the other. You will need to acquire state or national coaching licenses.
     
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  8. MarkTaylor

    MarkTaylor
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    Hi Claudiu,

    Your questions are very specific so I think you should start by finding a local business advisor or mentor - check out the local Chamber of Commerce to start with..

    Good luck with your venture...

    M.
     
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  9. TimB

    TimB
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    Well before you buy the land everything else should be taken care off. Lets say logo, getting legal and even your staff .... a proper strategic plan should be made show how, who and what tasks will be done.
    Land is not the big problem in your case!


    Best of Luck!
     
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  10. josephinesharla

    josephinesharla
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    For starting any kind of business either small or large, we need to know the proper basic information and strategies about that business. We need to planning the things based on our budget and requirements, we have to consult the experience people in that business.
     
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  11. Ted

    Ted
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    Claudiu,

    As others have suggested, I wouldn't recommend you buy any land just yet. Seek professional advice from a local attorney or accountant about that as was suggested by bluesky.

    You definitely want a well thought out business plan before spending any money on anything really.

    I would advise you to find other soccer coaches in your area and get to know them. Introduce yourself. Offer to buy them lunch. Tell them about your idea and ask their opinions.

    Use Google to find the ones closest to you. Look at places like this - http://soccer.meetup.com/cities/us/nc/charlotte/ for meetups where you can meet other people who share your interest.

    Get their opinion about what you would like to do.
     
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  12. Barney

    Barney
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    Hi Claudiu

    This seems to be a very interesting venture I suggest that you try and rent the land for a couple of years. local authorities would help you with getting this land for a reasonable price once you were committed to using it for promoting sport. Working with children could be very expensive as you need to have specialised trainers and the right equipment. Insurance would also be very expensive as children maybe more prone to injury and they could suffer parmenent damage resulting in large claims against you.
    Lots of luck and I hope I have not put you off this adventure but tread carefully.
     
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    #12 Barney, Feb 21, 2013
    Last edited: Feb 21, 2013
  13. consultk1

    consultk1
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    Hello Claudiu

    Great to know that you are making your passing as your business. Like everyone rightly said, first you need to draw up a business plan. This doesn't mean that you need to put up a fat 100 page colorful document. Even a two-three pager on what you propose to do will be sufficient. You basically need to get in touch with a lawyer and an accountant. While drawing up your business consider the following:

    1. What are the main revenue streams for your business? How will you charge your customers/clients? Apart from membership fee have you also considered revenue streams from sale of merchandise such as T-Shirts, Caps etc?
    2. What will be your main costs? Divide them into fixed costs (those that you have to incur irrespective of whether you are making money or not. Eg: Rent) and variable costs (costs that are incurred only when your business is running)? What are the main cost drivers for these?
    3. How will you fund your start up costs and running costs? Loan? Equity? From where?
    4. How many members do you need at a minimum to meet your expenses? This is what we call as a break-even point.
    5. How much manpower will you require apart from yourself? How much would be the salary outgo for each of them.

    There are several such questions that you need to answer before jumping into the business. I am not trying to discourage you, but it is always better to plan well ahead and be a 'Proactive Entrepreneur' than a 'Reactive Entrepreneur'.

    Good Luck. PM me in case you need anything further.

    Cheers!
    Kishore
     
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  14. 2misi.com

    2misi.com
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    If you do not have in-depth knowledge of how to open a business then it better if you buy a football education franchise.
    That might make it easier for you to operate instead of having to secure the legalities to buy a football club. I know some already famous football franchises which are a good buy.
     

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